Once again we are going to bail out people who made promises that they cannot keep. No where in the article is there any discussion of the responsibility of the borrower to verify what the school or the bank was telling them was correct. No where is there any discussion of the responsibility of the government (as the guarantor) or the institution granting the loan, to verify the earning potential of the person based on the school and the degree being pursued. Lots of emotion about how sad it is that people took out thousands of dollars in loans and how having to pay it back is not fair. As far as I can tell the only people that will have any responsibility to pay these loans will be the 50% of the country that pays federal income tax. No wonder Democrats keep getting elected.
http://www.msn.com/en-us/money/perso...NZl?li=BBnbfcL
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